Sizing Up Small Caps

Worth the Wait

After several disappointments, AMD finally seems poised to cash in on its new chips. A breakthrough partnership with IBM.

HAS FRED HICKEY GONE BONKERS? Rather a rude question, but anyone might be forgiven asking it. For Fred -- the iconoclastic, outspoken tech maven who knows more about tech stocks than anyone on this woebegone planet -- has not exactly been bullish, either on those stocks or the market as a whole. In point of fact, the proprietor of the High-Tech Strategist newsletter has been a ferocious bear, an uncompromising disbeliever in the rally ("a speculative orgy," a mini-mania powered by "liquidity-fed stupidity"), very much down on technology stocks in general ("grossly overvalued") and...